German Authorities Seize €34 Million Worth of Cryptocurrency From eXch Platform

German authorities have seized €34 million in cryptocurrency from eXch, a digital platform used by criminals to exchange stolen money, according to an announcement by the Federal Criminal Police Office (BKA) and the public prosecutor’s office in Frankfurt on May 9.

The confiscated funds include well-known virtual currencies such as Bitcoin, Ether, Litecoin, and Dash. This seizure is the third most significant crypto confiscation in the history of the BKA.

Law enforcement also closed down eXch’s servers in Germany, which contained more than eight terabytes of data.

eXch, which was launched in 2014, operated on both the open and dark web and facilitated the exchange of one cryptocurrency for another without any anti-money laundering checks.

It did not register with users or store any personal information, making it easy for criminals to conceal the sources of their digital money.

Over the years, an estimated €1.9 billion worth of cryptocurrency had transited through the platform, a good deal of which officials believe came from illegal sources.

Specifically, they suspect that the loot from the Bybit hack in February 2025 was laundered through eXch.

The owners of eXch, who are now being investigated for commercial money laundering and operating a criminal platform, had announced the closure of the platform’s operations on May 1.

However, German police moved swiftly with little notice to gather key evidence and gain access to eXch’s data and digital money.

The investigation was a joint effort with Dutch investigators from the Tax Investigation Department (FIOD) in cooperation. This collaboration is expected to be helpful in solving other cybercrimes.

Carsten Meywirth, who heads the Cybercrime Division at the BKA, highlighted the importance of this action in tearing down eXch and seizing millions of illegal funds.

He said that it sends a powerful message showing authorities are taking a serious stand to eliminate large-scale cybercrime.

Meywirth also noted that digital crime is growing rapidly and must be met with equal force.

Similarly, Dr. Benjamin Krause, Chief Public Prosecutor, ZIT, explained the role of such platforms as eXch.

He said that crypto swapping makes it an easier game for criminals to conceal illegal proceeds, such as those obtained from hacking and data theft.

Therefore, closing the platforms helps to choke the flow of dirty money.

This seizure and shutdown signal another strong move in the war on digital money laundering. Through collaboration between nations and the efforts of law enforcement, authorities are trying to stop cybercriminals from using cryptocurrency as a safe haven for unlawful wealth.